Maintainability of a Section 7 insolvency petition against a financial service provider denied; appeal dismissed for non maintainability and complex d...
Provisional attachment under Prevention of Money Laundering Act requires exhaustion of statutory remedies; impugned order set aside, appeal to tribuna...
Restoration of property under Prevention of Money Laundering Act after attachment dispute rendered academic; possession directed to successful resolut...
Rule 86A(3) limits blocking of the Electronic Credit Ledger to one year from the date of imposition, and any continuance beyond that period is contrary to the rule. Where the ledger blocking had continued after expiry of twelve months, the restriction was treated as having automatically ceased to operate. The Court declared the continued blocking illegal and directed the authorities to unblock the Electronic Credit Ledger forthwith.
Rule 86A(3) limits blocking of the Electronic Credit Ledger to one year from the date of imposition, and any continuance beyond that period is contrary to the rule. Where the ledger blocking had continued after expiry of twelve months, the restriction was treated as having automatically ceased to operate. The Court declared the continued blocking illegal and directed the authorities to unblock the Electronic Credit Ledger forthwith.
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